The operation
The operation involved the acquisition of Endesa by Gas Natural.
Gas Natural is the largest vertically integrated gas operator in Spain. in the Spanish electricity sector, Gas Natural has activities in the markets for generation and retailing to free customers. Gas Natural also operates in the gas sector in Argentina, Brazil, Colombia and Mexico.
Endesa was the largest electricity company in Spain, with activities in generation, distribution and retailing. Endesa also operated in the Spanish gas industry through its subsidiaries Endesa Gas, Endesa Energía and Carboex.
The Spanish competition authority - the Tribunal de Defensa de la Competencia (TDC) - blocked the merger in Phase II, but the Council of Ministries cleared the transaction with remedies.
The market(s)